The Future of Advertising: Why Financial Institutions Should Shift from Traditional TV to Streaming TV Ads
As the media landscape evolves, so too must the advertising strategies of businesses, including financial institutions. While traditional TV advertising has long been a mainstay, the advent of streaming TV advertising offers a more modern and efficient approach to reaching potential customers. Streaming TV advertising refers to ads that run within TV content watched through an internet-connected device, either before or during streaming content on ad-supported networks and apps. Unlike traditional linear television, where ads reach a broad audience with less precision, streaming TV advertising provides a more focused, data-driven, and flexible approach.
With two-thirds of viewers preferring to watch ads over paying for subscriptions—as long as those ads are relevant and non-intrusive—the potential for reaching highly engaged audiences has never been greater. Here are some compelling reasons why financial institutions should consider making the shift from traditional TV to streaming TV advertising:
- Precise Targeting Capabilities
One of the most significant benefits of streaming TV advertising is its ability to deliver highly targeted ads. Traditional TV ads cast a wide net, often reaching audiences who may not be interested in the product or service being advertised. In contrast, streaming TV advertising uses sophisticated data analytics to specifically target demographics, interests, and behaviors, making the ads more relevant and effective for each viewer. This precision allows financial institutions to reach their ideal customers more efficiently, such as targeting young professionals interested in investment opportunities or families looking for mortgage options.
- Advanced Measurement and Analytics
Unlike traditional TV advertising, where gauging the effectiveness of a campaign can be challenging, streaming TV ads provide robust measurement tools and analytics. Financial institutions can gain in-depth insights into how viewers engage with ads, the overall effectiveness of the campaigns, and the breadth of the audience reached. These metrics, similar to those used in digital marketing, allow for a more comprehensive understanding of a campaign’s impact, enabling advertisers to make data-driven decisions that optimize their return on investment (ROI).
- Greater Flexibility and Real-time Optimization
Streaming TV advertising offers the flexibility to make swift adjustments to campaigns based on real-time viewer data and feedback. For financial institutions, this means the ability to refine messaging, adjust creative elements, or reallocate budget toward better-performing content. This agility ensures that advertising dollars are being used as efficiently as possible, maximizing the impact of each campaign.
- Higher Engagement and Brand Recall
Viewers of streaming platforms are typically more engaged than those of traditional TV. Streaming content is often more personalized, and viewers are more likely to interact with and remember advertisements. This heightened engagement leads to better brand recall and recognition—crucial elements for financial institutions that want to build long-term relationships with their customers. A well-crafted streaming ad can significantly enhance brand memory, making it more likely that viewers will choose a particular bank, investment firm, or insurance provider when the need arises.
- Cost-Effectiveness
Cost remains a critical factor for any advertising campaign. Compared to traditional TV advertising, which often requires significant investment for prime-time slots, streaming TV advertising is more cost-efficient. Financial institutions can reach a broad audience without incurring the high costs associated with linear TV ads. This cost-effectiveness is especially beneficial for smaller institutions or credit unions looking to compete with larger, more established players in the financial services industry.
- Aligning with Consumer Behavior Trends
The popularity of streaming services continues to soar, with Americans spending an average of three hours and nine minutes a day streaming digital media. Furthermore, 99% of all U.S. households pay for at least one or more streaming services. This widespread adoption presents an enormous opportunity for financial institutions to reach a massive and growing audience on platforms where they are already highly engaged. By aligning advertising strategies with consumer behavior trends, financial institutions can ensure they remain relevant and top-of-mind for their customers.
Conclusion
The shift from traditional TV to streaming TV advertising is not just a trend—it represents the future of advertising. For financial institutions, the benefits are clear: precise targeting, advanced analytics, flexibility, higher engagement, cost-effectiveness, and alignment with consumer behavior. In a competitive market where brand differentiation and customer engagement are key, streaming TV advertising offers an innovative and impactful way for financial institutions to connect with their audiences and achieve their business goals. As more viewers turn to ad-supported streaming platforms, the potential for growth and success in this space is tremendous. Now is the time for financial institutions to embrace streaming TV advertising and reap its rewards. Ready to unlock the full potential of your business? Contact Strategis today for a consultation.
